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Giesecke+Devrient: Ghana CBDC Nullifies the Need for Multiple Intermediaries in Cross-Border Payments

[Jul 24 10:31 PM] The recently completed proof of concept by the Bank of Ghana and the Monetary Authority of Singapore demonstrated that the latter’s central bank digital currency enables cross-border payments, excluding many intermediaries and associated costs…

China and UAE Praise Potential Role of CBDCs in Cross-Border Trade

[Jun 2 11:10 PM] China and the United Arab Emirates (UAE) have acknowledged the crucial role of central bank digital currency (CBDC) in facilitating cross-border trade and investment. In a joint statement, the two countries expressed their commitment to deepening…

Nigerian Startup, Zone, Raises $8.5M in Seed-Funding Round

[Mar 20 5:30 AM] Zone, a Nigerian payment fintech startup that leverages the blockchain, recently raised $8.5 million in a seed funding round. An undisclosed portion of the funds will be allocated to cover costs associated with the trial of Zone’s cross-border…

Ripple Partners With Onafriq to Enable Faster Cross Border Payments to Africa

[Nov 14, 2023 6:30 AM] Ripple and the Africa-focused payment fintech startup Onafriq recently said they are collaborating to enable crypto-based cross-border payments between Africa and the Gulf Cooperation Council (GCC), the U.K., and Australia. Using Ripple’s…

Governments See CBDCs Making Their Countries ‘More Economically and Financially Efficient’ — Venom Foundation CEO

[Aug 29, 2023 4:30 AM] According to Louis Tsu, the CEO of Venom Foundation, governments that are seeking to introduce central bank digital currencies (CBDCs) are not being driven by the fear that privately issued digital currencies may soon become the preferred method…

Crypto Has Evolved From Being Seen as an ‘Anti-Establishment Rebellion Asset’ Says FCA Executive Director

[Apr 26, 2023 2:00 AM] From being seen as a small “anti-establishment rebellion asset” more than ten years ago, crypto has grown to “become more widespread,” says Sarah Pritchard, an executive director at the United Kingdom’s Financial…

TBD and Yellow Card to Enable Fiat On and Off-Ramp Payments in 16 African Countries via BTC

[Apr 18, 2023 12:30 AM] TBD and the Africa-focused cryptocurrency exchange platform Yellow Card recently partnered to launch a fiat on and off-ramp that enables payments in some 16 African countries through Bitcoin rails. The objective of this arrangement is to make…

Strike Launches Bitcoin Lightning Network-Enabled Money Transfers to Africa

[Dec 7, 2022 4:30 PM] United States-based users of Strike, a digital payments platform built on Bitcoin’s Lightning Network, can now transfer funds instantly and at a low cost to Kenya, Ghana, and Nigeria via the recently added new feature known as “Send…

FTX Collapse: African Crypto Industry Leaders’ Perspective and Advice to Regulators

[Nov 16, 2022 4:00 AM] The collapse of FTX and subsequent calls for tougher regulation by the likes of U.S. Senator Elizabeth Warren have increased the likelihood of regulators adopting even stricter crypto laws. In Africa, crypto industry participants warn of the…